As Comcast-owned Sky moves early to lock down its F1 media rights in the U.K. and Italy, Apple may be facing an even more competitive path to expanding its Formula One deal beyond the U.S. Here are the details.
Apple has made no secret that it wants to expand its F1 streaming rights beyond the U.S.
Earlier this month, ahead of the Miami GP, Apple’s SVP of Services and Health Eddy Cue spoke to the press about, among other things, the company’s growing involvement in the sport.
As Reuters reported at the time:
“The sport doesn’t get licensed on a global basis,” he added. “Do I hope that we are able to grow into other areas and markets? Yeah, I do.
“But starting in the U.S. which is a huge market for us, and being able to build from there, is definitely the right way to do it. And that’s what we are focused on right now. The easiest way for us to continue to grow is to make sure we make this a huge success.
“And then of course it would be great to expand it.”
Now, as Reuters noted, Sky has “agreed to extend its F1 media rights deal to 2034 in the U.K. and 2032 in Italy at a premium price of one billion pounds ($1.34 billion),” adding that the U.K. deal was reached “ahead of its original 2029 expiration year.”
This means that if Apple had expected to secure F1 media rights in either country, it will now have to wait several years for another shot.
It could also signal an uphill battle for Apple in other regions, as broadcasters could also move to protect sports rights that, ironically, seem to be getting more valuable partly because of the attention Apple has brought to the sport.
For context, Formula One, which is owned by Liberty Media, does not sell its media rights as a single global package. Instead, it licenses them market by market, usually through multi-year deals that can cover traditional TV, streaming, or both.
This means Apple can win the rights in one country, as it has done in the U.S., without automatically getting access to the same races elsewhere.
To read Reuters’ full report, follow this link.
Worth checking out on Amazon
FTC: We use income earning auto affiliate links. More.
